So I have a couple of noob questions about PayPal. Say for example I won a $500 item off ebay and I needed to pay the guy through paypal, how long does it take to transfer from my bank account to my paypal account? Also, does paypal take like 10% or something of the money transfered? So if I put in $500, would it not work? And how long does it take for money to get transfered..
thanks
OT: PayPal
Moderator: bclaire
The transfer is instant if the other guy has a PayPal account too.
If you transfer $500 he'll get a little less than that, but it's nowhere near 10%; he'll probably end up with about $497 and some change. If he's used to people buying from him with PayPal he should be okay with that; I've never had to pay the seller's charges.
If you transfer $500 he'll get a little less than that, but it's nowhere near 10%; he'll probably end up with about $497 and some change. If he's used to people buying from him with PayPal he should be okay with that; I've never had to pay the seller's charges.
Kerry
Too much gain is... just about enough
Too much gain is... just about enough
If you link your paypal account to your bank account then the transfer will be instant.
Depending on how many transactions the seller does on paypal, paypal charges him a fee of between 2.9 and 3.9% +30 cents. As a buyer you don't have to be concerned about this since it is charged to the seller not the buyer.
As was mentioned earlier, you can also use your bank account funds by selecting the echeck option when you pay via paypal. This has a $5 fixed fee so once the cost of the item rises about about $200 then the seller gets charged less than a regular transcation. It makes no difference to the buyer.
Unless the seller specifies an echeck only (which I believe is not allowed on ebay) I would recommend you don;t use that method. Unlike instat transfers, echecks take 3-4 days to clear into the sellers account and they are not going to ship the item you bought until it clears.
Depending on how many transactions the seller does on paypal, paypal charges him a fee of between 2.9 and 3.9% +30 cents. As a buyer you don't have to be concerned about this since it is charged to the seller not the buyer.
As was mentioned earlier, you can also use your bank account funds by selecting the echeck option when you pay via paypal. This has a $5 fixed fee so once the cost of the item rises about about $200 then the seller gets charged less than a regular transcation. It makes no difference to the buyer.
Unless the seller specifies an echeck only (which I believe is not allowed on ebay) I would recommend you don;t use that method. Unlike instat transfers, echecks take 3-4 days to clear into the sellers account and they are not going to ship the item you bought until it clears.
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<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by kmlabs</i>
<br />The transfer is instant if the other guy has a PayPal account too.
If you transfer $500 he'll get a little less than that, but it's nowhere near 10%; he'll probably end up with about $497 and some change. If he's used to people buying from him with PayPal he should be okay with that; I've never had to pay the seller's charges.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
I think they changed that slightly. Paypal doesn't make those funds available to you until they clear from the bank now, which can take a day or two for good banks, or a week+ for others. And they tell the seller to wait to ship until they get notification from Paypal that the bank released the funds.
<br />The transfer is instant if the other guy has a PayPal account too.
If you transfer $500 he'll get a little less than that, but it's nowhere near 10%; he'll probably end up with about $497 and some change. If he's used to people buying from him with PayPal he should be okay with that; I've never had to pay the seller's charges.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
I think they changed that slightly. Paypal doesn't make those funds available to you until they clear from the bank now, which can take a day or two for good banks, or a week+ for others. And they tell the seller to wait to ship until they get notification from Paypal that the bank released the funds.
- Nathan
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<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica" id="quote">quote:<hr height="1" noshade id="quote"><i>Originally posted by Amoun</i>
<br />is it? why?
i should be surprised if any legislation covered private transactions between individuals
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
OK, it's against ebay's user policies to pass on any charges to the buyer, so you can report them if they try. Just done a little Google research and it seems like a grey area in regards to the law, I'm sure I've read somewhere that it's illegal.
I know it's against the law to pass on credit card fees to buyers.
<br />is it? why?
i should be surprised if any legislation covered private transactions between individuals
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
OK, it's against ebay's user policies to pass on any charges to the buyer, so you can report them if they try. Just done a little Google research and it seems like a grey area in regards to the law, I'm sure I've read somewhere that it's illegal.
I know it's against the law to pass on credit card fees to buyers.
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